BRRRR - How to use hard money and then refi ?

[Andrew Merewitz]

I'm looking in Florida (jacksonville specifically) to start with some BRRRR properties. The hard money lenders require an LLC to lend to, but then when I want to refi into a conventional loan, I wont be able to do so under the LLC as I'd have to get corporate loans which may require more money down.. Am I missing something? is there a better way to approach this?

[Andrew Kerr]

@Andrew Merewitz I have done this two ways. 

The first is use private or hard money to buy & fix-up the property, then place tenants and keep it in my LLC. Then refinance with a portfolio lender.

The second way is the same as above, but then just before you refinance, use a quit claim deed from the LLC to your personal name. Then do a refinance with a convention lender. Make sure to be up front with the lender so they are ok with it, but it is possible as I just did this a few months ago.